Kazakhstan's stock market: problems of realizing investment potential and development prospects

Abstract

The stock market of the Republic of Kazakhstan has significant potential to attract investments and promote economic development. However, its implementation faces a number of challenges that limit the effectiveness of the market, which require comprehensive measures to overcome, including improving the legal framework, increasing transparency in corporate governance, developing financial literacy among the population, and encouraging new issuers to enter the market. Only if existing barriers are eliminated will the stock market of Kazakhstan be able to realize its investment potential and make a significant contribution to the sustainable economic development of the country.

The purpose of this study is to identify and analyze factors that hinder the full realization of the investment potential of the stock market of the Republic of Kazakhstan, as well as to develop recommendations for their elimination in order to increase the effectiveness of attracting investments and promote sustainable economic development of the country.

The results of the study confirmed the importance of an integrated approach to increase the investment potential of the stock market of Kazakhstan. The implementation of the proposed measures will not only strengthen the country's financial system, but also increase its competitiveness in the international arena, stimulating economic growth. The study stands out for its focus on studying the problems of insufficient realization of the investment potential of the stock market of Kazakhstan, with an emphasis on identifying specific barriers, such as a lack of financial instruments, limited liquidity and the influence of regulatory factors. Unlike the existing works, it includes a systematic approach to the analysis of factors that make it difficult to attract capital, taking into account the peculiarities of the Kazakh economy. The work uses both traditional methods of financial analysis (asset profitability, profit and efficiency analysis) and modern statistical tools.

The conclusions emphasize the need for a systematic approach to address key issues and unlock the investment potential of Kazakhstan's stock market, which will become an important driver of economic growth in the long term.